Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 3,493, 1,086 total housing units (homes and apartments), and a median house value of $316,961, Hillsboro real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Hillsboro, accounting for 71.99% of the city's housing units. Other types of housing that are prevalent in Hillsboro include duplexes, homes converted to apartments or other small apartment buildings ( 13.27%), large apartment complexes or high rise apartments ( 8.76%), and a few mobile homes or trailers ( 5.81%).
The most prevalent building size and type in Hillsboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.60% owning and 44.40% renting.
Hillsboro homes and real estate are some of the newest in America. 44.14% of Hillsboro's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Hillsboro real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 31.61%), and between 1940-1969 ( 21.70%). There's also some housing in Hillsboro built before 1939 ( 2.54%).
Vacant housing appears to be an issue in Hillsboro. Fully 11.06% of the housing stock is classified as vacant. Left unchecked, vacant Hillsboro homes and apartments can be a drag on the real estate market, holding Hillsboro real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Hillsboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.04% during the period.
Over the last year, Hillsboro appreciation rates have trailed the rest of the nation. In the last twelve months, Hillsboro's appreciation rate has been 4.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hillsboro were at 1.09%, which equates to an annual appreciation rate of 4.45%.
Relative to Missouri, our data show that Hillsboro's latest annual appreciation rate is higher than 60% of the other cities and towns in Missouri.
$316,961
for Missouri
for nation
1,086
$1,476 / per month